Aliko Dangote is reportedly selling his loss-making enterprise unit, Dangote Flour Mills to Olam global for N130 billion ($361.Eleven million).
The sale of Dangote Flour mills p.C for N130 billion ($361.11 million), was announced in a company disclosure posted at the Nigerian stock trade (NSE) on Tuesday.
In line with Thabo Mabe, director at Dangote Flours, Olam international has indicated hobby to gather all the high-quality and issued stocks of the flour generators organisation that aren’t presently owned by means of Ola through its subsidiary, Crown Flour generators confined.
“the total consideration presented via Olam and being taken into consideration by means of the Board of Dangote Flour generators for the whole five billion issued shares of the organization is N130 billion.
“The attention represents the organisation value on a debt-free, cash-unfastened foundation, payable in coins on the last of the proposed transaction.
This attention may be adjusted for internet working capital and net debt as of 31 March 2019 or any other later date that can be agreed by Olam and the Board of Dangote Flour mills to reach at the very last fee payable to equity shareholders.”